Bank of Japan is expected to implement an easing measure when it meets on April 9th and 10th, according to Societe Generale analyst Takuji Okubo.

This comes after the Japan's central bank kept its monetary policy on hold last month overruling a single proposal for more stimulus. At the time Bank of Japan governor Masaaki Shirakawa said the central bank was still focused on beating deflation and warned about the risk of rising oil prices to Japan's economic outlook.

Okubo said politics would be the real trigger for more easing. From Okubo:

"In the recent weeks, [Liberal Democratic Parry] LDP, Japan’s leading opposition party, stepped up its criticism against Prime Minister Noda that he is not spending enough effort to eliminate deflation from Japan while willing to take the risk of prolonging deflation by raising consumption tax."

Earlier this week, the LDP revealed a proposal to reform the Bank of Japan law to make it more accountable to meet its inflation goal and to give the cabinet the power to dismiss the central bank's executive if it failed to meet its target. Okubo expects that the central bank will step up easing under such political pressure and expects it to announce 5 trillion yen increase in its purchase of Japanese government bonds.